The world significantly lacks investment in pandemic preparedness, thus it must be prepared, especially for handling severe implications of COVID-19, namely health and economic crises, he observed at a G20 side event here on Monday.
G20 is a multilateral cooperation group that comprises 19 countries and the European Union (EU). Indonesia, which is holding the presidency of the grouping this year, will host the G20 Summit in Bali on November 15 and 16, 2022.
During the G20 side event entitled “Redesigning Pandemic Prevention, Preparedness, and Response: Lessons Learned and New Approaches,” he noted that the COVID-19 pandemic has taught the world to ensure reliable and sustainable funding.
To achieve this end, redesigning the global health architecture has become important.
The World Health Organization and the World Bank have estimated the PPR gap to be around US$10 billion. Bridging this gap will not be easy, therefore, a funding mechanism has been created, namely the Pandemic Fund, Rondonuwu noted.
The Pandemic Fund has been unveiled as part of the Indonesian G20 Presidency. It has gathered US$1.4 billion from 15 countries and three philanthropic institutions so far.
The Pandemic Fund is expected to address the PPR gap as well as strengthen poor and developing countries’ resilience, he informed.
The fund had been proposed since the Italian G20 Presidency in 2021, but it was finally agreed upon and completed under Indonesia’s leadership this year.
He said he expects the fund to grow to meet its goal during India’s Presidency.
Meanwhile, founder and CEO of CISDI, Diah S. Saminarsih, said that the Pandemic Fund established under the Indonesian G20 Presidency is a strategic effort to cover the global health funding gap.
Through its G20 Presidency, Indonesia has the capacity to give voice to the interests of the low as well as lower-middle-income countries so that they can receive benefits through the Pandemic Fund, she added.
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